Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan Or Rubles

by Tyler Durden
ZeroHedge.com
06/26/2014

Something very dramatic happened overnight when, in a little noticed statement, Gazprom’s CFO Andrey Kruglov uttered the magic words:

GAZPROM READY TO SETTLE CHINA CONTRACTS IN YUAN OR RUBLES: CFO

In other words just as the US may or may not be preparing to export crude – a step which would weaken the dollar’s reserve status as traditional US oil trading partners will need to find other import customers who pay in non-USD currencies – the world’s two other superpowers are preparing to respond.

The Rest…HERE

This entry was posted on Thursday, June 26th, 2014 at 10:51 am and is filed under Economics, Energy, World Politics. You can follow any responses to this entry through the RSS 2.0 feed.